Elastic (NYSE:ESTC) Earns “Buy” Rating from Rosenblatt Securities

Elastic (NYSE:ESTC)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a report released on Tuesday,Benzinga reports. They presently have a $130.00 price objective on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 25.00% from the company’s current price.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Oppenheimer lifted their price target on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada boosted their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Barclays raised their target price on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Jefferies Financial Group upped their price target on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus price target of $125.78.

Elastic Price Performance

Shares of NYSE:ESTC opened at $104.00 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market cap of $10.78 billion, a PE ratio of 190.04 and a beta of 1.07. The company’s fifty day moving average is $106.00 and its 200 day moving average is $95.42. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

Institutional investors have recently bought and sold shares of the company. M&T Bank Corp increased its position in shares of Elastic by 3.1% during the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after acquiring an additional 139 shares in the last quarter. Sigma Planning Corp boosted its stake in Elastic by 3.7% during the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock valued at $389,000 after purchasing an additional 139 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after purchasing an additional 151 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after purchasing an additional 201 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.